Subsequent Installments. Upon the date occurring one (1) month after the Initial Exercise Date, and continuing thereafter on each subsequent monthly anniversary of the Initial Exercise Date, the Employee may exercise this Option for up to an additional two percent (2%) of the shares covered hereby (rounded up to the nearest whole number of shares), so that this Option shall become fully exercisable as of ______________. In no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.
Subsequent Installments. Upon the first day of each _____________, _____________, _____________ and _____________ following the Commencement Date, and continuing thereafter on the first day of each subsequent calendar quarter, the Director may exercise this Option for up to an additional ____________ percent (__%) of the shares covered hereby (rounded up to the nearest whole number of shares), so that this Option shall become fully exercisable as of ___________, 19__. Subject to Section 7, in no event shall the Option be exercisable for more shares than the number of shares set forth in Section 1.
Subsequent Installments. (a) Each of the Purchasers shall, subject to the terms and conditions hereof, make one or more additional advances to the Company in the aggregate amount up to (and not to exceed) the amount set forth opposite such Purchaser’s name on Schedule 1 hereto under the heading “Subsequent Installment Amount,” in one or more fundings from time to time from the Closing Date through the business day immediately preceding the Maturity Date (as defined below) (each such advance, a “Subsequent Installment” and, collectively, the “Subsequent Installments”).
Subsequent Installments. The second installment payable shall be ------------------------ made to Seller on the date which is six (6)
Subsequent Installments. Subsequent capital calls and Capital Contribution installments will typically occur on a Project-by-Project basis. Subject to Section 4.1(d), upon the satisfaction or waiver by the Company of the Second Installment Conditions Precedent with respect to a Project, or in expectation of the satisfaction of the Second Installment Conditions Precedent with respect to a Project, it is anticipated that each Member will contribute to the Company the Second Installment for such Project. Subject to Section 4.1(d), upon the satisfaction or waiver by the Company of the Third Installment Conditions Precedent with respect to a Project, or in expectation of the satisfaction of the Third Installment Conditions Precedent with respect to a Project, it is anticipated that each Member will contribute to the Company the Third Installment for such Project. Capital calls will be made at the times and in the amounts necessary to make Capital Contributions to Holding Companies, including when and as necessary to ensure Company has at least a 20% interest in a Project at or around the time such Project reaches mechanical completion.
Subsequent Installments. Each of the Purchasers shall, subject to the terms and conditions hereof, make one or more additional advances to the Company in the aggregate amount up to (and not to exceed) the amount set forth opposite such Purchaser’s name on Schedule 1 hereto under the heading “Subsequent Installment Amount,” in one or more fundings from time to time from the Closing Date through July 31, 2005 (each such advance, a “Subsequent Installment” and, collectively, the “Subsequent Installments”). If the Company desires the Purchasers to make a Subsequent Installment, it shall deliver a written request to the Purchasers, which request shall specify the amount of such Subsequent Installment, the intended use of such Subsequent Installment funds and shall certify that the none of the events specified in clauses (i) through (iii) in the subsequent sentence shall have occurred (the “Funding Request Notice”). No Purchaser shall be obligated to fund any Subsequent Installment if (i) any representation or warranty by the Company contained herein shall be untrue or incorrect in any way on the date of such Subsequent Installment, (ii) that certain letter of intent dated June 29, 2005 between an affiliate of the Purchasers and the Company (the “Letter of Intent”) shall have been terminated or the conditions to the payment of the termination fee contemplated by paragraph 5(c) of the Letter of Intent shall have occurred (the date any termination fee becomes due being deemed a termination thereof even if no formal written termination notice has been given), or (iii) any breach or default (including an Event of Default (defined below)) shall have occurred and be continuing under this Agreement, any Note, the Guaranty, the Security Agreement, the Subordination Agreement or the Letter of Intent (collectively, the “Bridge Loan Documents”). The funding of any Subsequent Installment shall occur within five business days after the receipt of the applicable Funding Request Notice by delivery by Purchasers to the Company via wire transfer of immediately available United States funds, the amount listed in the Funding Request Notice delivered to such Purchaser. All Installment Amounts and all payments of principal and interest under each Note (or any portion, installment or drawdown thereon) shall be recorded by the applicable Purchaser and endorsed on the grid which is part of such Purchaser’s Note. The entries on the grid which is part of such Note shall be prima facie evidence of amounts outstan...
Subsequent Installments. Any such prepayment shall not change the amount of or postpone the due date of any subsequent installments of principal and interest until the principal balance and accrued interest shall have been paid in full.
Subsequent Installments. After the sale and purchase of Common Stock pursuant to Section 2.1 and subject to the terms and conditions of this Agreement, the Company shall sell and issue to the Investors and the Investors shall be obligated to purchase from the Company the Additional Commitment Shares at the Share Purchase Price. Additional closings shall be held from time to time after the Initial Closing with respect to the Additional Commitment Shares on the terms and conditions set forth in this Section 2.2.
Subsequent Installments. (1) The General Partner shall issue Capital Contribution Notice within [ ] years of the Initial Closing Date according to the project’s situation, specifying the ratio of Subsequent Installments payable by the Partner to its Subscribed Capital Contribution, the payable amount of Subsequent Installments and the closing date. Subsequent Contributions shall be paid in [ ] installments, the ratio of [ ] installment are [ ]. The General Partner shall issue Capital Contribution Notice to all Partners at least 25 days in advance, and all Partners shall pay the payable amount of Subsequent Installment specified therein at or before the closing date to the Escrow Account.
Subsequent Installments. The second installment payment shall be made to Seller on the date which is six (6) months after the Closing Date (as hereinafter defined) in an amount equal to (pound)303,333. The third installment payment shall be made to Seller on the first anniversary of the Closing Date in amount equal to (pound)303,333. The fourth and final installment payment shall be made to Seller on the date which is eighteen (18) months after the Closing Date in amount equal to (pound)303,334. All payments under this Section 1.3(b) shall be by bank check or by wire transfer to the account designated by Seller in writing and shall be made by the Escrow Agent (as hereafter defined) out of the funds deposited with it in accordance with Section 1.3(c). The third and fourth installment payments are subject to adjustment in accordance with Sections 1.3(d) and 1.4.
